Table of Contents
Risks, Volume 5, Issue 1 (March 2017)
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Cover Story (view full-size image) Disability Income Insurance (DII) pays a fixed proportion of salary if you are unable to work for [...] Read more. Disability Income Insurance (DII) pays a fixed proportion of salary if you are unable to work for an extended period of time due to sickness or disability. During periods of rising unemployment (economic downturns) we find that DII claim incidence increases in Australia, and that the greatest increases are amongst white-collar, or medium and heavy manual workers, and those with shorter deferment periods. We also find a significant increase in accident-related claims. Our findings lend weight to the hypothesis that moral hazard may have a material impact on DII claim incidence and insurer business in periods of declining economic conditions. View this paper